Rakuten Investment Management Inc. Buys New Position in Crh Plc $CRH

Rakuten Investment Management Inc. purchased a new stake in Crh Plc (NYSE:CRH) during the third quarter, HoldingsChannel.com reports. The fund purchased 119,600 shares of the construction company’s stock, valued at approximately $10,110,000.

A number of other institutional investors have also recently bought and sold shares of CRH. Amundi increased its position in shares of CRH by 74.7% during the first quarter. Amundi now owns 5,965,814 shares of the construction company’s stock worth $627,126,000 after acquiring an additional 2,550,178 shares in the last quarter. Hsbc Holdings PLC boosted its stake in CRH by 441.4% in the 1st quarter. Hsbc Holdings PLC now owns 1,468,493 shares of the construction company’s stock worth $154,218,000 after purchasing an additional 1,197,255 shares during the period. Renaissance Technologies LLC acquired a new position in CRH in the 1st quarter worth $79,124,000. Janus Henderson Group PLC boosted its stake in CRH by 27.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,186,541 shares of the construction company’s stock worth $228,994,000 after purchasing an additional 477,242 shares during the period. Finally, Engineers Gate Manager LP increased its holdings in CRH by 1,838.4% during the 2nd quarter. Engineers Gate Manager LP now owns 461,503 shares of the construction company’s stock worth $49,381,000 after purchasing an additional 437,694 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Insider Activity at CRH

In other CRH news, Director Siobhan Talbot acquired 2,000 shares of CRH stock in a transaction dated Tuesday, November 3rd. The stock was bought at an average cost of $94.63 per share, for a total transaction of $189,260.00. Following the purchase, the director directly owned 10,507 shares in the company, valued at approximately $994,277.41. This represents a 23.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRH shares. DA Davidson dropped their price target on CRH from $117.00 to $114.00 and set a “buy” rating on the stock in a research note on Monday. Truist Financial boosted their price target on CRH from $105.00 to $120.00 and gave the company a “buy” rating in a report on Monday. BNP Paribas Exane reduced their price objective on CRH from $157.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft set a $118.00 price objective on CRH in a report on Friday, October 9th. Finally, JPMorgan Chase & Co. initiated coverage on CRH in a report on Tuesday, October 13th. They set an “overweight” rating and a $115.00 price objective for the company. Nineteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, CRH presently has a consensus rating of “Moderate Buy” and an average price target of $125.61.

CRH Stock Down 3.5%

Shares of CRH stock opened at $95.37 on Friday. The company’s fifty day simple moving average is $87.18 and its 200-day simple moving average is $103.68. The firm has a market cap of $63.45 billion, a PE ratio of 17.89, a P/E/G ratio of 1.88 and a beta of 1.33. Crh Plc has a 12 month low of $78.62 and a 12 month high of $131.55.

CRH (NYSE:CRH) last released its earnings results on Thursday, October 29th. The construction company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $11.40 billion during the quarter, compared to the consensus estimate of $11.56 billion. CRH had a net margin of 9.19% and a return on equity of 15.03%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 earnings per share. On average, equities analysts predict that Crh Plc will post 5.55 earnings per share for the current fiscal year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Friday, November 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.56 annualized dividend and a yield of 1.6%. CRH’s payout ratio is 29.27%.

CRH Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its activities include the production and distribution of aggregates, asphalt, ready-mixed concrete, cement and other construction materials, as well as value-added products such as precast concrete, architectural products and site-development solutions.

The company serves customers across North America and Europe, including contractors, construction companies, infrastructure developers, distributors and public-sector organizations.